TechFlow News — On October 26, according to the Wall Street Journal citing sources familiar with the matter, the U.S. federal government is investigating whether cryptocurrency firm Tether may have violated sanctions and anti-money laundering regulations. This criminal probe, led by prosecutors from the U.S. Attorney’s Office for Manhattan, aims to determine whether third parties have used the cryptocurrency to fund illegal activities such as drug trafficking, terrorism, and hacking, or to launder proceeds from such activities. At the same time, the U.S. Department of the Treasury has been considering imposing sanctions on Tether due to its use by individuals and groups subject to U.S. sanctions.
In response, Tether CEO Paolo Ardoino posted on X, stating there is no indication that Tether is under investigation, and called the report’s claims outdated and repetitive.
